MANTRA DAO, a DeFi platform that focusses on staking, lending, & governance, has announced its strategic partnership with Band Protocol, which is a cross-chain data oracle platform that connects APIs and real-world data to smart contracts.
Apart from exploring the oracle integration into the MANTRA DAO ecosystem, this partnership also aims at running a validator node on the BandChain Mainnet. It will be the first COSMOS ecosystem partnership that will allow the Band token holders to delegate and stake their tokens on the MANTRA DAO platform.
In addition to earning inflationary rewards by delegating Band tokens to the MANTRA DAO validator node, the Band token holders are also entitled to earn additional OM tokens from MANTRA DAO. OM tokens are the governance tokens used within the DAO platform with a sole motive to vote on proposals related to various parameters within the DAO ecosystem.
With this partnership, both the platforms have mutually agreed to cooperate in developing other Band Protocol Oracle integration into the DAO ecosystem, thereby accelerating the growth of two independent communities in the crypto world.
MANTRA DAO is built to solidify various DeFi protocols that include borrowing, lending, and games. With this partnership with Band Protocol, it will become easier to build a more secure, scalable, and transparent decentralized blockchain ecosystem.